Amadeus IT Group SA

Amadeus is a transaction processor for the global travel and tourism industry. Co. provides transaction processing power and technology solutions to both travel providers (including full service carriers and low-cost airlines, hotels, rail operators, cruise and ferry operators, car rental companies and tour operators) and travel agencies (both online and offline). Co. acts both as a worldwide network connecting travel providers and travel agencies through a processing platform for the distribution of travel products and services (through the Distribution business), and as a provider of a portfolio of IT solutions which automate certain business processes (through the IT solutions business).
  • TickerAMS
  • ISINES0109067019
  • ExchangeMadrid Stock Exchange
  • SectorSoftware & Computer Services
  • CountrySpain

Thanks to a better fundamental star rating, AMADEUS IT GROUP sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to AMADEUS IT GROUP (ES), active in the Software industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date August 11, 2020, the closing price was EUR 48.85 and its expected value was estimated at EUR 46.22.

Bruno Cavalier ...
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/03/2020

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Nicolas David ...
  • Yan Derocles

Amadeus IT Holding SA : No major surprises in Q2. Visibility remains very weak for H2 2020

>Q2 2020 revenues broadly in line with forecasts - Amadeus reported Q1 revenues of € 260m, down -81%, in line with forecasts. As expected, it was the transactional revenues linked to air traffic that drove activity down, particularly as the metrics linked to these flows came in below forecasts and below worldwide air traffic because the group, like peers, i/ is not exposed to the local Chinese market; ii/ is highly dependent on international and business traffic and i...

Nicolas David ...
  • Yan Derocles

Amadeus IT Holding SA : T2 sans grosse surprise. La visibilité reste très faible pour le S2 2020

>CA T2 2020 globalement en ligne avec les attentes - Le CA T2 d’Amadeus est ressorti à 260 M€, en baisse de -81% ; en ligne avec les attentes. Comme attendu, ce sont les revenus transactionnels liés au trafic aérien qui tirent l’activité vers le bas, et ce, d’autant plus que les métriques liées à ces flux sont inférieures aux attentes et à la baisse du trafic aérien mondial car le groupe, comme ses concurrents, i/ n’est pas exposé au marché local chinois, ii/ est très...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Not too bullish, not too bearish Despite several indexes recently touching new 52+ week highs, broad global indexes (MSCI ACWI, ACWI ex-US, EAFE, and EM) remain near logical resistance, and indicators continue to send mixed signals. As a result we are hesitant to get too bullish or bearish. Instead we want to focus on Sector/Group/industry themes where we bottoming price and RS, or attractive pullback opportunities within established price and RS uptrends. Below we highlight some of these themes along with indicators that support our overall constructive -- yet tempered -- outlook. • Positiv...

Valérie GASTALDY

Analyse court terme - AMADEUS IT HOLDING SA-A SHS : La tendance est incertaine.

La tendance est incertaine. Les cours baissent, mais la tendance manque de puissance pour le moment. Le prochain support est à 66,80 €.

Valérie GASTALDY

Short term view - AMADEUS IT HOLDING SA-A SHS : The trend is uncertain.

The trend is uncertain. Prices are falling, but the trend is lacking power for the time being. The next support is at €66.80.

Valérie GASTALDY

Analyse court terme - AMADEUS IT HOLDING SA-A SHS : Les cours baissent.

La tendance est incertaine. Les cours baissent, et il y a une possibilité d'accélération baissière. Une nouvelle tendance baissière tente de démarrer.

Valérie GASTALDY

Short term view - AMADEUS IT HOLDING SA-A SHS : Falling prices.

The trend is uncertain. Prices are falling and they may accelerate to the downside. A new bearish trend is attempting to emerge.

Amadeus It Group S.A.: 1 director bought

A director at Amadeus It Group S.A. bought 350 shares at 63.600EUR and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of...

Nicolas David ...
  • Yan Derocles

Amadeus IT Holding SA : No major surprises in Q2. Visibility remains very weak for H2 2020

>Q2 2020 revenues broadly in line with forecasts - Amadeus reported Q1 revenues of € 260m, down -81%, in line with forecasts. As expected, it was the transactional revenues linked to air traffic that drove activity down, particularly as the metrics linked to these flows came in below forecasts and below worldwide air traffic because the group, like peers, i/ is not exposed to the local Chinese market; ii/ is highly dependent on international and business traffic and i...

Nicolas David ...
  • Yan Derocles

Amadeus IT Holding SA : T2 sans grosse surprise. La visibilité reste très faible pour le S2 2020

>CA T2 2020 globalement en ligne avec les attentes - Le CA T2 d’Amadeus est ressorti à 260 M€, en baisse de -81% ; en ligne avec les attentes. Comme attendu, ce sont les revenus transactionnels liés au trafic aérien qui tirent l’activité vers le bas, et ce, d’autant plus que les métriques liées à ces flux sont inférieures aux attentes et à la baisse du trafic aérien mondial car le groupe, comme ses concurrents, i/ n’est pas exposé au marché local chinois, ii/ est très...

Alvaro del Pozo

AMADEUS: MENSAJES DE LA CONFERENCE CALL RDOS. 2T’20 (ANÁLISIS BANCO SABADELL)

De la conference call de Rdos. 2T’20 destacamos:  Perspectivas del negocio: Observan ya una estabilización de las cancelaciones de reservas (en la última semana de julio las reservas netas eran positivas), mientras que las nuevas reservas están más centradas en el mercado nacional (China y EE.UU y en menor medida Europa), con poca visibilidad aún en el mercado internacional. Respecto a la dinámicas competitiva, no ven cambios significativos, pero sí si indican que la actividad comercial siguen siendo elevada , y esperan que los nuevos acuerdos puedan materializarse en ventas en el medio plazo...

Alvaro del Pozo

AMADEUS: 2Q’20 RESULTS (ANÁLISIS BANCO SABADELL)

2Q'20 vs. 2Q'19 Results Sales: € 259.5 M (-81.8% vs. -84.9% expected and -81.3% expected by the market consensus); EBITDA: € -155.0 M (€ 593.0 M in 1H'19 vs. € -120.0 M expected and € -166.0 M expected by the market consensus); Net Profit: € -231.0 M (€ 331.7 M in 1H'19 vs. € -259.0 M expected and € -268.0 M expected by the market consensus); 1H'20 vs. 1H'19 Results Sales: € 1.281 Bn (-54.8% vs. -56.4% expected and -54.5% expected by the market consensus); EBITDA: € 194.4 M (-83.7% vs. -80.8% expected and -84.6% expected by the market consensus); Net Profit: € -89.2 M (€ 666.7 M in 1H'19 vs. €...

Alvaro del Pozo

AMADEUS: RDOS. 2T’20 (ANÁLISIS BANCO SABADELL)

Rdos. 2T'20 vs 2T'19: Ventas: 259,5 M euros (-81,8% vs -84,9% BS(e) y -81,3% consenso); EBITDA: -155,0 M euros (593,0 M euros en 1S'19 vs -120,0 M euros BS(e) y -166,0 M euros consenso); BDI: -231,0 M euros (331,7 M euros en 1S'19 vs -259,0 M euros BS(e) y -268,0 M euros consenso); Rdos. 1S'20 vs 1S'19: Ventas: 1.281 M euros (-54,8% vs -56,4% BS(e) y -54,5% consenso); EBITDA: 194,4 M euros (-83,7% vs -80,8% BS(e) y -84,6% consenso); BDI: -89,2 M euros (666,7 M euros en 1S'19 vs -117,2 M euros BS(e) y -126,2 M euros consenso); Rdos. 2T’20 en línea en ventas y ligeramente mejores que el consens...

Amadeus IT Group S.A. - March 2020 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Amadeus IT Group S.A.: Update following outlook change to negative

Our credit view of Amadeus, reflecting our expectations of weaker performance and an increase in leverage following the coronavirus outbreak.

Amadeus IT Group S.A. - September 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Amadeus IT Group S.A.: Update following rating affirmation

Our credit view of Amadeus, reflecting its performance, market positions, industry disintermediation, technological risks and expected leverage following the rating affirmation.

Amadeus IT Group S.A. - September 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Bruno Cavalier ...
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/03/2020

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Anis Zgaya ...
  • Benoit Valleaux
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Johanna Jourdain
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/13/2020

This crisis has provided an opportunity for the telecoms sector to demonstrate its operational resilience and strategic importance. We have upgraded Proximus and Orange BE to Buy, Iliad and Deutsche Telekom remain our Top Picks whilst Telefonica is suffering from its presence in Latin America. Cf. report published today. - ...

Anis Zgaya ...
  • Benoit Valleaux
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Johanna Jourdain
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 13/05/2020

Cette crise aura été l’occasion pour les télécoms de démontrer leur résilience opérationnelle et leur aspect stratégique. Nous upgradons à l’Achat Proximus et Orange BE, Iliad et DT restent nos top pick, Telefonica souffre de sa présence au Latam. - ...

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Johanna Jourdain
  • Matthias Desmarais
  • Nicolas David
  • Pierre Tegner
  • Samantha Jeary
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/03/2020

Our new production scenario (-12%, of which -32% of H1) prompts us to a further marked downward revision to our estimates (~-60% since January, -40% vs 2020 consensus estimates). Whilst valuations might now suggest that a large portion is already factored in, despite the recent rebound, visibility remains too low for us to be more constructive and we maintain our strict stock picking strategy. Michelin, Volkswagen, Peugeot and Plastic Omnium remain our preferred stocks whilst we are s...

Thanks to a better fundamental star rating, AMADEUS IT GROUP sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to AMADEUS IT GROUP (ES), active in the Software industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date August 11, 2020, the closing price was EUR 48.85 and its expected value was estimated at EUR 46.22.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Amadeus IT – AGM 17 June 2020

This year, in light of COVID-19, the Company has decided to invite shareholders to attend the Meeting only via telematic means.   The Company's self-assessment of independent Directors varies from ECGS'as we don't consider Mr. Tazón García (former CEO of Amadeus) and Mr. Huss (CEO of Ingenico Group, business partner of the Company) as such. Consequently, the level of independence at the Board will be reduced from 76.9% to 61.5%, still over 50%. We urge the Company to classify these Directors as other external. However, since no concern arise over the level of independence, we recommend that ...

Expert Corporate Governance Service (ECGS)

Amadeus IT - AGM 18 June 2019

In item 5, the Board of Directors seeks authorization to reduce the share capital by redeeming 7'554'070 treasury shares currently held by the Company (1.7% of issued share capital). We regret that the Board has not provided a clear justification for the requested authorization, and we note that 33% of the annual bonus and 50% of the long-term incentive depend on earnings per share (EPS). As concerns may arise over the possibility to use the authorization to increase the executive variable remuneration, we recommend opposition. In item 8, shareholders are called to an advisory vote on the Ann...

Amadeus Holding It – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Proxy Rapport 21/06/2018

In item 8, shareholders are called to an advisory vote on the Annual Remuneration Report, including the remuneration policy and the amounts paid in 2017. We regret that the CEO's base salary was increased by 5% in 2018, without a clear justification provided by the Board. Furthermore, the CEO's variable remuneration is capped at 350% of the base salary (150% the annual cash bonus and 200% a Performance Share Plan), exceeding the ECGS voting policy limit of 300%, and the Board has the discretionary power to increase the CEO's long-term incentive up to 400% of his base salary. Also taking into a...

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